Zions Bancorporation (ZION) Earnings Expected to Rise

Wall Street is optimistic about Zions Bancorporation, which is slated to report its second quarter results on Monday, July 22, 2013. Analysts project a profit of 42 cents a share, a rise from 30 cents per share a year ago.

Over the past three months, the consensus estimate has risen from 41 cents. Analysts are projecting earnings of $1.79 per share for the fiscal year. A year after being $648.6 million, analysts expect revenue to fall 15% year-over-year to $552.4 million for the quarter. For the year, revenue is projected to come in at $2.22 billion.

The increase in profit in the first quarter came after net income fell in the previous quarter. The 21% profit increase in the most recent quarter brought the figure to $110.7 million. One quarter prior, net income was down 35% year-over-year.

Revenue has fallen for the past three quarters. The year-over-year drop in revenue was 5% in the first quarter. Prior to that, revenue fell 2% in the fourth quarter and 8% in the third quarter year-over-year.